HOW TO BUY AT AN ONLINE AUCTION


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GENERAL BIDDING REQUIREMENTS

REQUIREMENTS INCLUDE:

  1. One of the following: Driver's License, Passport Identification or ID Card
  2. Proof of funds (US Proof of FundsInternational Proof of Funds or Bank Statement)
  3. Credit Card (may be used for a pre-auction authorization)
  4. If registering as a Company, Proof of Company (Incorporation documents, VAT/Tax Number)
  5. If registering as a North American dealer, copy of Dealer and Resale Tax Certificate

HOW TO REGISTER & BID

HOW DO YOU REGISTER AND HOW DO YOU BID?

For a simple and easy walk through on how to create an account, how to register, and how to bid, we have provided a downloadable brochure in ENGLISH, FRENCH, GERMAN and ITALIAN with step-by-step instructions. Our Client Service team is also ready and able to walk you through any part of the registration process, so please do not hesitate in contacting them.

Watch the video below to see a simple walk-through showing you how to create an account, register to bid, and place bids via RM Sotheby's Online Only auctions.

 

 

GENERAL ONLINE BIDDING FAQs

How Does Bidding Work?

HOW TO BID: Once logged in and registered to bid, additional information on the bidding process will be available on each individual lot page via the “HOW BIDDING WORKS” button. Key information included in the instructions is also listed below.

OUTBID NOTIFICATIONS: If a bid placed by another bidder exceeds your bid, you will be notified via the email address you provided during registration, and the lot page will indicate you have been outbid.

ANTI-SNIPE FEATURE: If a bid is placed within the final two minutes, the auction will be extended by an additional two minutes to prevent a bidder from trying to place a high bid in the final moments of the auction.

LOTS WITH RESERVE: Some lots may be subject to a reserve price or the minimum amount that a seller will accept as the winning bid. The reserve price will remain confidential. For lots with a reserve price, your bid must meet or exceed the reserve to win the lot. In the event you are the highest final bidder, but your bid has not met the reserve price, the lot will not sell. For lots with reserves, bidding starts at half (50%) of the published low estimate, and the final bid must exceed the reserve price in order to sell to the highest bidder. Whether the reserve has been met will not be disclosed until the auction has ended.

Note: When a motor car or any other lot is sold subject to such reserve bid, the auctioneer (RMS) may bid on the Consignor’s behalf in an amount not to exceed the amount of the reserve bid.

LOTS WITHOUT RESERVE:  If you are bidding on a lot that is “offered without reserve,” you will win the lot if you are the high bidder at the time bidding closes. For unreserved lots, bidding starts at 50.

MAX BIDS: Our online bidding platform does not accept maximum bids. If you enter a bid amount that is significantly higher than the current asking bid, this will be accepted as the new high bid on the lot.

What are the bidding increments for Online Only Auctions?

The asking price is determined by the increment table below. If you type an amount that would result in an off-increment bid, your bid will be rounded down to the nearest on-increment bid.

If you are currently the high bidder, you may still increase your bid by placing another bid for a higher value.

Current Bid

Minimum Increment

0 - 999

25

1,000 - 2,499

50

2,500 - 4,999

100

5,000 - 9,999

250

10,000 - 24,999

500

25,000 - 99,999

1,000

100,000 - 499,999

5,000

500,000 - 999,999

10,000

1,000,000+

20,000

What happens to unsold lots?

Following the close of the auction, unsold lots will be listed as ‘Still for Sale’ and will move to our Still For Sale section once the entire auction has closed. Interested parties are invited to contact an RM Sotheby’s Car Specialist to make an offer.

 

WHAT TO CONSIDER WHEN BUYING A CLASSIC AUTOMOBILE

Automobile collecting has matured and is on par with the collection of fine art. With over 25 car specialists strategically placed in key markets around the world and six full-time researchers who pride themselves on thoroughly establishing the provenance of every car we offer, RM Sotheby's is able to advise clients through every element of investing in a classic automobile.

Condition
Is the car entirely original, or has it been restored? If it was restored, how recently and thoroughly was it completed, and was it carried out to period-correct standards? In what state are the paint, chrome, interior, and other components of the car?

Specification
Is this the most desirable presentation of this particular model or year? Does it include the best combination of optional equipment? Is it equipped with the most powerful engine? How popular or rare is its color combination?

Authenticity

How does the car's presentation today compare to the day it was built? Is it a numbers-matching car with its original engine, transmission, chassis, and body? Can its originality be substantiated with factory records and other documentation?

Provenance

Who acquired the car new, and is the sequence of subsequent owners known and documented conclusively? Are any of these owners prominent to the extent they might add value to the car? In the case of a competition car, was it raced by any famous drivers, or did it win any notable races? With a road car, did it secure notable awards at prominent concours d'elegance events?

Price
How do prices compare both at auction and privately for this particular marque, model, and year? How much do condition, provenance, and specification play a part in its value?

Please refer to Inspection Reports listed on each lot page to view RM Sotheby’s account for the condition of the vehicle you are interested in. Our team is available should you have any additional questions regarding the condition or authenticity of the lot of interest.